Khwarizmi Ventures is a venture capital firm based in Riyadh that invests from seed to Series A across the Gulf with no sector restriction. Its portfolio includes Tamara, Calo, Hala and TruKKer.
About Khwarizmi Ventures
Khwarizmi Ventures launched its first fund at $70 million (SAR 262 million), whose second close was announced at LEAP in 2022, and it has invested in more than 30 companies. In 2026 it announced a first close of its second fund exceeding SAR 270 million, with commitments from Saudi institutional investors and family offices. It invests in Gulf startups from seed to Series A.
The first close of the second fund (more than SAR 270 million) was announced in 2026; the final size has not yet been announced.
What it invests in
- Stages
- Seed, Series A
- Sectors
- All sectors
- Fund size (Fund I)
- $70M (2022-02) Source
From its portfolio
Tamara
A Saudi platform for interest-free, Sharia-compliant installments and pay later, for shoppers and merchants in the Gulf.
- Stage
- Series C
- Raised
- $446M
- Founded
- 2020
- City
- Riyadh
Hala
One app for small businesses: a payment device, a business account, a card and financing
- Stage
- Series B
- Raised
- $161.5M
- Founded
- 2017
- City
- Riyadh
Calo
Healthy meal subscriptions with calories and protein calculated for each customer's goal, cooked and delivered daily
- Stage
- Series B
- Raised
- $90.5M
- Founded
- 2019
- City
- Riyadh
Rewaa
A cloud system for shops and restaurants that puts the POS, inventory, accounting and e-invoicing on one screen
- Stage
- Series B
- Raised
- $72M
- Founded
- 2018
- City
- Riyadh
Erad
Shariah-compliant financing for small and medium businesses based on their sales data, with repayment that follows their revenue
- Stage
- Series A
- Raised
- $40.4M
- Founded
- 2022
- City
- Riyadh
TruKKer
A digital platform for trucking freight that connects companies with truck owners in the Gulf and the region
- Stage
- Series C
- Raised
- $170.4M
- Founded
- 2016
- City
- Riyadh
Lean Technologies
Open banking and payments infrastructure that connects financial apps to banks through a single API
- Stage
- Series B
- Raised
- $104M
- Founded
- 2019
- City
- Riyadh
Team
- Abdulaziz AlTurkiManaging Partner
- Homam MeaddawiPartner
- Arjun ChopraPartner